By Lewis Krauskopf NEW YORK (Reuters) – U.S. stocks have soldiered on through a banking mess to notch solid first-quarter gains. Some investors say that performance could come under pressure if a widely expected recession hits. The benchmark S&P 500 posted a 7% gain for the first quarter, which ended on Friday, rebounding after a …
Resilient U.S. stocks failing to factor in recession, investors fear Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – Wall Street rallied more than 1% on Friday and the Nasdaq notched its biggest quarterly percentage gain since June 2020, as signs of cooling inflation bolstered hopes the Federal Reserve might soon end its aggressive interest rate hikes. The S&P 500 closed at its highest level since Feb. …
Indexes jump on inflation data; Nasdaq posts best qtr since 2020 Read More »
By David Shepardson WASHINGTON (Reuters) -General Motors Co expects some electric vehicles (EVs) will qualify for $7,500 U.S. tax credits after stricter Treasury Department guidance takes effect April 18, the U.S. automaker said on Friday. “We expect a number of our Ultium-based EVs, including the Cadillac Lyriq and additional EVs launching this year like the …
GM says it expects some EVs to receive $7,500 US tax credits Read More »
By Daniel Wiessner (Reuters) – Tesla Inc has been sued by a Black former general manager who says he was fired for pushing back against comments by his white supervisor that he claims were racist, the latest in a series of race bias cases against the world’s most valuable automaker. John Goode, who oversaw a …
Tesla faces new race bias claims while a separate trial wraps up Read More »
WASHINGTON (Reuters) – A bipartisan group of U.S. lawmakers reintroduced a bill to allow news organizations to join together to negotiate ad rates with tech giants such as Alphabet Inc’s Google. The measure would allow news broadcasters and publishers with fewer than 1,500 full-time workers to jointly negotiate ad rates — many of which face …
U.S. lawmakers introduce bipartisan bill to help news media negotiate with Big Tech Read More »
NEW YORK (Reuters) – A U.S. judge on Friday dismissed lawsuits by investors who accused Goldman Sachs Group Inc and Morgan Stanley of engaging in market manipulation before the collapse of Bill Hwang’s investment firm Archegos Capital Management LP. U.S. District Judge Paul Crotty in Manhattan rejected claims that the Wall Street banks, two of …
Goldman, Morgan Stanley win dismissal of lawsuits related to Archegos Read More »
By Aditya Soni and Chavi Mehta (Reuters) -Canada on Friday approved Rogers Communications Inc’s C$20 billion ($14.8 billion) buyout of Shaw Communications after securing commitments from them to promote competition in a market with some of the highest wireless bills in the world. The final nod from Minister of Innovation, Science and Industry Francois-Philippe Champagne …
Canada clears C$20 billion Rogers-Shaw deal with tough conditions Read More »
By Fergal Smith (Reuters) -Canada’s main stock index rose on Friday for a sixth straight day, notching its highest closing level in three weeks, as worries eased about the outlook for U.S. interest rates and data showed stronger-than-expected growth in the domestic economy. The Toronto Stock Exchange’s S&P/TSX composite index ended up 158.90 points, or …
TSX pads quarterly gain as interest rate concerns ease Read More »
By Josh Horwitz SHANGHAI (Reuters) – Alibaba’s six-way breakup plan has raised questions about the long-term shape of its profitable cloud unit, given that it will have to tackle heavy regulatory scrutiny at a time when competition is intensifying both in China and abroad. While a split into a standalone unit will give investors a …
Analysis-Alibaba overhaul leaves fate of prized cloud unit up in the air Read More »
By Marcela Ayres BRASILIA (Reuters) – Fresh competition in Brazil’s lucrative meal voucher market must wait, according to people familiar with discussions between the Finance Ministry and central bank, which disagree about how to regulate a new system in time for its scheduled launch in May.A law passed in September under former President Jair Bolsonaro …
Brazil meal payments overhaul delayed by central bank standoff Read More »
